FCA fines former non-exec director £154k for conflicts of interest

Angela Burns, an NED and chair of the investment committees at mutuals the Marine and General Mutual Life Assurance Society and the Teachers Provident Society, has referred the case to the Upper Tribunal, where both sides will be heard. She had unsuccessfully applied to the Tribunal for an order preventing the FCA's Decision Notice to be published. The FCA alleged that Burns tried to gain consultancy work with a US based investment manager for whom she'd worked back in 2006, without notifying the two UK-based mutual societies for which she acted as NED and chair of their investment co...